I do a bit of leatherwork, horn work and occasionally some woodworking. Lately I've also started dabbling in iron (friend gave me a forge). What I make is generally for the Rendezvous and Reenactment circuit. I've found that the serious reenactors and renezvousers understand the basis for a fair price on handmade goods. It's the casual participants who are looking for the WalMart pricing. I do this as a hobby, very small production. If I find a suitable hide cheaply enough, I might make 2 or 3 sporrans for example. I rarely even try to sell anything anymore. Most of what I make winds up being given to friends, or given out as prizes at various events. My thought on the matter is that I enjoy the making much more than the having.
Value is a teachable concept though. Earlier today I was overseeing my 12 year old grandson as he poured a pewter bolster and pommel for his first hand forged knife (he did the forge work as well). He told me "PopPop, now I understand why the good knives at Rendezvous cost so much. This takes a lot of time and work."
Regarding the piping, I really think most people only look at the time we are actually on location playing. They completely disregard the time and money spent on kit, instrument, lessons, etc. Why we seem to be the only ones subject to this selective blindness is a mystery to me.